JERSEY CITY, N.J., March 31, 2022 /PRNewswire/ -- The growing adoption and awareness of iPaaS amongst business enterprises in response to its cost-effectiveness, use of cloud-based systems to manage the increasing quantities of information are major driver driving the market's growth.
Verified Market Research recently published a report, "Integration Platform As A Service (IPAAS) Market" By Service (Data Integration, Data Transformation, API Management), By Vertical (Education, Healthcare And Life Science, Government And Public Sector), and By Geography. According to Verified Market Research, the Global Integration Platform As A Service (IPAAS) Market size was valued at USD 2.57 Billion in 2020 and is projected to reach USD 23.71 Billion by 2028, growing at a CAGR of 37.2% from 2021 to 2028.
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Global Integration Platform As A Service (IPAAS) Market Overview
The growing adoption and awareness of iPaaS amongst business enterprises in response to its cost-effectiveness is a major driver driving the market's growth. Moreover, technological advances have led to the use of cloud-based systems to manage the increasing quantities of information, which is another factor driving market expansion. The growing need for flexibility, adaptability, and rapid deployment by business entities is putting a positive spin on the market's development.
Furthermore, aspects such as the growing need for cloud security and connectivity, the increasing choice for Integrated Platform as a Service from consumer products and healthcare, and the rising amount of cloud solution suppliers are all driving the growth of the market iPaaS offers a framework for integrating cloud-based apps, APIs, and on-premises platforms with programs, data, and conventional processing projects. However, such integrations are not possible with today's highly compatible traditional machinery.
Common uses that manage essential data such as customer and employee data are compatible with a more recent cloud integration system, requiring the replacing of the existing system with the latest upgraded system to interact with iPaaS. Enterprises find it difficult to use iPaaS due to compatibility issues which inhibits the growth of the market. It is preferred by companies as a standalone cloud-based and on-premises platform for connecting apps since it provides more management over integrating flows, reduced costs, delivery speed, and stability.
Key Developments
- In September 2021, SnapLogic has introduced a revised version of their new revolutionary SnapLogic Flows technology. SnapLogic Flows makes it simple for sales, advertising, financial, and Organizations to produce new integrations and processes that assist their daily operations, answer their most urgent business needs, and decrease time-to-market and outcomes.
- In May 2021, Jitterbit has purchased eBridge Connections, a prominent integration Platform as a Service provider that allows information to flow effortlessly across on-premises and cloud e-commerce, EDI, ERP, and CRM systems. The combined products give one of the industry's leading sets of e-commerce and EDI integration solutions on the market, enabling the company to expedite its digital transformation initiatives and achieve considerable time-saving.
Key Players
The major players in the market are SAP SE, Dell Boomi, Inc., IBM Corporation, Informatica Corporation, MuleSoft, Inc., Oracle Corporation, Jitterbit, Inc., Snap Logic, Inc. Celigo, Inc, Scribe Software Corporation, and Other.
Verified Market Research has segmented the Global Integration Platform As A Service (IPAAS) Market On the basis of Service, Vertical, and Geography.
- Integration Platform As A Service (IPAAS) Market, By Service
- Data Integration
- Data Transformation
- API Management
- Real-Time Monitoring And Integration
- Integration Platform As A Service (IPAAS) Market, By Vertical
- Education
- Healthcare And Life Science
- Government And Public Sector
- Consumer Goods And Retail
- Banking, Financial Services, And Insurance
- Others
- Integration Platform As A Service (IPAAS) Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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